Past year: ▲ 75%(96.0c – 2.08 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
16 Feb 2012resource reserve update▲ GoodMajor
Updated the Timmins West resource to 1,914,000 ounces in total - 1,122,500 ounces indicated (5,826,000 t at 5.99 g/t) and 791,500 ounces inferred at 5.76 g/t - across the Timmins and Thunder Creek deposits, with the Timmins deposit alone at 882,400 ounces. A preliminary economic assessment and first reserve were promised for the quarter.
10 Feb 2012material agreement▲ GoodMajor
Franco-Nevada agreed to pay US$35 million for a 2.25% net smelter royalty over the Timmins West Complex and a further C$15 million for 10,050,591 shares at C$1.49, a 5% premium to the 10-day average. About C$50 million of funding ahead of the mine ramp-up, for roughly 3% dilution plus a permanent revenue slice.
6 Jan 2012resource reserve update● Neutral
Filed the Fenn-Gib technical report, formalising 1.30 million ounces indicated at 0.99 g/t and 0.75 million ounces inferred at 0.95 g/t. Paperwork behind an already-announced number.
4 Jan 2012resource reserve update● Neutral
Filed the Thunder Creek technical report on SEDAR, formalising the November resource of 521,600 ounces indicated at 5.64 g/t and 510,000 ounces inferred at 5.89 g/t. Paperwork behind an already-announced number.
15 Dec 2011material agreement● Neutral
Converted September's Revolution Resources letter agreement into a formal option; on signing, Revolution issued Lake Shore Gold shares equal to 9.9% of itself, with the earn-in terms unchanged from those announced on 15 September.
29 Nov 2011asset acquisition disposition● Neutral
Sold land and mineral interests to Golden Share Mining and was paid entirely in paper: 21,690,000 shares (19.9% of Golden Share) plus warrants over 10,845,000 more at $0.20, a 27.2% partly diluted interest, one board nomination right for five years and a 1% net smelter royalty on future production.
18 Nov 2011resource reserve update▲ GoodMajor
One filing carrying two maiden resources: Thunder Creek at 2,877,000 t grading 5.64 g/t for 521,600 ounces indicated plus 2,693,000 t at 5.89 g/t for 510,000 ounces inferred, and Fenn-Gib at 40.8 Mt grading 0.99 g/t for 1.30 million ounces indicated plus 24.5 Mt at 0.95 g/t for 0.75 million ounces inferred. Fenn-Gib met the 2-million-ounce target set when Barrick sold it three months earlier.
28 Oct 2011drilling result▲ GoodMajor
Fenn-Gib hole FG-11-04 cut 1.31 g/t gold over 414.0 m, including 1.54 g/t over 264.0 m, and ended in mineralisation 470 m below surface; shallow mineralisation was extended 200 m north. Three twin holes matched or beat the historic results and check sampling of about 200 core halves averaged 1.12 g/t against 0.91 g/t originally, so the inherited data was if anything understated.
15 Sept 2011material agreement● Neutral
Signed a letter agreement letting Revolution Resources earn 60%, and potentially 100%, of Lake Shore Gold's four Mexican exploration properties in exchange for a 9.9% stake in Revolution plus spending commitments. The company was stepping back from Mexico to concentrate capital on Timmins while keeping exposure through equity.
30 Aug 2011drilling result▲ Good
Gold River Trend drilling extended mineralisation up to 450 m below the existing resource (4.22 g/t over 16.0 m, 72.84 g/t over 1.6 m including 116.50 g/t over 1.0 m) and 300 m beyond its eastern limit, with the company seeing scope to follow the structure a further 1.8 km east.
22 Aug 2011asset acquisition disposition▲ GoodMajor
Completed the purchase of Barrick Gold's Fenn-Gib and Guibord Main properties, 60 km east of Timmins, for 14.9 million shares - 3.9% of the company and no cash. Management targeted a first resource of at least 2 to 3 million ounces there, making it the third gold complex Lake Shore Gold held along the Porcupine-Destor fault.
16 Aug 2011drilling result▲ Good
Nine holes and 30 wedge holes (22,479 m) at Bell Creek extended gold 400 m below the existing resource - 5.62 g/t over 28.5 m including 10.85 g/t over 11.4 m, and 7.71 g/t over 8.1 m including 12.58 g/t over 4.6 m - and infill drilling continued upgrading inferred material to indicated.
29 July 2011listing compliance notice▲ GoodMajor
NYSE Amex approved a US listing, with trading to start 1 August 2011 under LSG alongside the existing TSX line. This is where the SEC filing record held here begins; the company was already producing in Timmins and had been TSX-listed for years.
26 July 2011drilling result▲ GoodMajor
Underground and surface drilling at Thunder Creek confirmed and extended the deposit above and below the 730 Level, with 7.57 g/t gold over 108.8 m, 7.01 g/t over 112.7 m, 4.70 g/t over 145.7 m and 10.19 g/t over 55.0 m (including 18.95 g/t over 20.5 m). Surface holes also picked up a possible new zone 500 m southwest along the TC-144 trend - the corridor the company would drill out from 2012 as the 144 Gap.
